KBC Securities - DEME GROUP NV (DEME) ... Morning Notes : WDP BB, DEME BB | ResearchPool

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Report

KBC Securities

Guy Sips ...

Wim Lewi

Morning Notes : WDP BB, DEME BB

: WDP BB, DEME BB

09/04/2025 1 EN

Underlyings

DEME GROUP NV

DEME GROUP NV

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BE0974413453 Euronext Brussels Belgium

Warehouses De Pauw SCA

Warehouses De Pauw SCA

Warehouses De Pauw and its subsidiaries are engaged in investment in the Belgian semi-industrial property market. Co. is a closed-end property investment company which specializes in: development of storage and distribution premises; customized projects in line with the user's request; acquiring premises for customers who wish to engage in sale and leaseback transactions.

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BE0974349814 Euronext Brussels Belgium

Provider

KBC Securities

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Guy Sips

Wim Lewi

Other Reports on these Companies

GlobeNewsWire

DEME announces start of new share buyback program

DEME announces start of new share buyback program Based on the shareholder authorization granted by the Extraordinary General Meeting of June 29, 2022, the Board of Directors of DEME Group NV has decided to launch a new share buyback program. Attachment

April 16, 2025 April 16, 2025 1 EN

GlobeNewsWire

DEME kondigt start nieuw inkoopprogramma eigen aandelen aan

DEME kondigt start nieuw inkoopprogramma eigen aandelen aan Op basis van de door de Buitengewone Algemene Vergadering van 29 juni 2022 verleende machtiging van de aandeelhouders, heeft de Raad van Bestuur van DEME Group NV besloten een nieuw inkoopprogramma van eigen aandelen op te starten. Bijlage

April 16, 2025 April 16, 2025 1 EN

ING Financial Markets

Benelux Morning Notes

Ackermans & van Haaren: Another Delen Private Bank acquisition in the Netherlands. Ahold Delhaize: Peer Albertsons FY24/25 results. ASML: 1Q25 results; already weaker ahead of the tariffs. Barco: Calm before the storm. Heineken: In the hold. Melexis: Partial move to China. Staffing sector: Hays' 3Q24/25 trading update; in line. Vopak: New industrial terminal or energy transition facility? WDP: €60m investment with KDL

April 16, 2025 April 16, 2025 1 EN

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Other Reports from KBC Securities

Wim Hoste

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Heineken Feedback conference call

Below are the highlights of the conference call. As previously hinted at, Heineken did report a fairly weak 1Q trading update with beer volumes down 2.1%, impacted ao by the timing of Easter, Tet and one trading day less. Importantly, Heineken did stick to its FY25 guidance range of 4-8% organic operating profit (beia) growth. We still appreciate Heineken for the earnings recovery potential in coming years, supported by sizeable cost savings initiatives (€ 400m/y). We maintain our Accumulate rating and € 100 target price.

April 16, 2025 April 16, 2025 1 EN

Wim Hoste

Wim Hoste

Heineken FIRST LOOK: 1Q beer volume -2.1%, FY guidance maintained

As previously hinted at, Heineken did report a fairly weak 1Q trading update with beer volumes down 2.1%, impacted ao by the timing of Easter, Tet and one trading day less. Importantly, Heineken did stick to its FY25 guidance range of 4-8% organic operating profit (beia) growth. We still appreciate Heineken for the earnings recovery potential in coming years, supported by sizeable cost savings initiatives (€ 400m/y). We maintain our Accumulate rating and € 100 target price.

April 16, 2025 April 16, 2025 1 EN

Thibault Leneeuw

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ASML Weaker order intake, disappointing 2Q25 outlook, strong GPm

ASML 1Q25 revenues were in line with expectation and EPS was better than expected. However, the order intake and 2Q25 outlook are below CSS. The EPS outperformance in 1Q25 was driven by the strong GPm. ASML sold more expensive EUV tools at a richer configuration and due to the fact that they met customer-specific performance targets. The outlook for 2025 remains unchanged. If uncertainties continue ASML sees FY25 revenues at the low end of the guided € 30-35bn range. AI demand could drive the high end of the range although we expect FY25 revenues closer to the low end of the range as we expect...

April 16, 2025 April 16, 2025 1 EN

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